Giant Quant Firm AQR Cuts Jobs After a Dismal Year
- Cuts said to amount to low single-digit percentage of staff
- Almost all of AQR’s funds have lost money in the past year
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AQR Capital Management, the giant quantitative fund manager run by Cliff Asness, is cutting jobs after a year of poor performance.
The firm-wide reductions will amount to a low single-digit percentage of the workforce, according to a person familiar with the matter. The firm, which managed $226 billion at the end of September, had more than 1,000 employees across its global offices, according to its website.